markets

Still Counting…

The market is very happy with the results of the presidential election today. Why? It’s all about taxes. It looks like the Republicans will hold the Senate. If that’s the case, the corporate taxes stay low and that’s good for stocks.

Of course, it also makes a new stimulus package less likely, which is bad for the average person.

It was a wild night, but the shift from red to blue was predictable. I noted this in the Newport Beach Chamber’s 2021 Business Outlook Session (even thought I doubted it last night for sure.)

By Christopher Schwarz, ago

More COVID Records

Another day, another 7-day average case record for the US and the EU. France, Italy, UK, and Germany all have started partial or full lockdowns again, which will have economic and financial implications (see stock market today).

I think it’s important to think about what success looks like. I have added South Korea and Australia case counts to the graph. Note these are population adjusted since the US has more population.

You can see the number of cases is simply tiny compared to the US. Australia had a little spike in July and August and put that out quickly. But we haven’t been nearly as successful. And now we will pay the price, both economically and socially.

By Christopher Schwarz, ago